Best Online Stock Trading Sites

Explore Your Options: Enjoy Your Opportunities

Online stock trading isn’t just for those without experience in the stock market, of course. Personal users, small businesses, and larger financial enterprises have all found benefits in eliminating the corporate middleman. That said, many of the best online brokerages cater to those new to investing. As you settle in to a new account, you’ll have a plethora of options before you. Many newcomers tend to focus on stock trading, which tends to have the most dazzle, but that’s only one of your options. You may also want to try trading the following:

• Bonds – Bonds are one of the safest investments you can make. While stocks give you equity ownership in a company, bonds represent a company’s debt. Of course, reduced risk comes with reduced reward, so stock investing still has its place.

• International Stocks – Don’t want to limit yourself to domestic shares? There are several benefits to expanding your portfolio to include foreign and international stocks. With increased globalization and the opportunity to get in on the ground floor of some exciting companies, international stocks can be a powerful investment choice.

So How Do the Big Shots Do It?

The Right Mindset - Through investments and trading, you can build wealth in a way that savings simply can’t. To have success in online stock trading, however, you have to control your emotions. Here are some tips to ensure that you are trading on information and strategy, not feelings:

Give it time – There’s a reason why investment experts advise newcomers to take it slowly at first. If you’re new to trading, don’t throw all of your money into the stock market on the first day.

Ask for Help – If you find yourself unable to refuse the “gambling” aspect of the stock market, you may want to enlist a little help. An independent investment strategist can help you make better decisions about your portfolio, while still allowing you the greater freedom that comes with online trading.

Plan Ahead – Developing a sound investment plan can prevent you from making decisions on the spur of the moment. One technique many online traders have used to great success? Imposing a 24 hour cooling period on any decisions that deviate from the original plan.

Choosing the Best Online Brokerage

Ready to get involved with the stock market in a way that traditional investment brokerages have never allowed in the past? Your first step is to choose an online broker. Here are some traits to look for:

• Reliability – An online broker needs to provide a site that is reliable, with little or no downtime.

• Options – What happens if you want to make a trade, but you aren’t by your computer? Good firms offer additional options for trading, including by phone and through fax.

• Reputation – Do you research before signing up and make sure others speak highly of the firm before you hop on board.

• Tools – Actually investing in a stock is only part of the stock trading experience. One of the most important things to research, when choosing a brokerage firm, is the quality of the trading platform available. Do proper due diligence and it will pay off in the end.

Be Your Own Boss: Some More Advantages of Online Trading

• You don’t have to consult with a broker, wondering all the while if his recommendations stem from his best interests or yours.

• You choose your own transactions, giving you a level of freedom and control you won’t find in the brick-and-mortar brokerage firms.

• Commission costs are almost universally lower, meaning you’ll have more money to put directly into your investments.

• The best online brokerage firms give their clients access to advanced tools, and trading platforms, that are invaluable when it comes to trading successfully.

• Trading online, you’ll be able to access your account around the clock, though market hours remain the same.